[benjulmag]

What we are seeing IMO is more a function of the depth of the market for 19th century compared to other areas. It is much thinner and therefore more sensitive to an important player or two deciding not to bid on an item.

Relatively speaking, compared to the prices of some 20th century slabbed cards, for buyers with some knowledge of the hobby and appreciation for what he/she is bidding on (thereby eliminating registry buyers), I think many 19th century items are undervalued.